Page:United States Statutes at Large Volume 94 Part 2.djvu/397

 PUBLIC LAW 96-399—OCT. 8, 1980

94 STAT. 1675

right to receive services with respect to such real estate or personal property), except a lease does not include mortgages or other such agreements for the purchase of real estate; (17) "person" means a natural person, corporation, partnership, association, trust or other entity, or any combination thereof; (18) "purchaser" means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a unit, other than (A) a leasehold interest (including renewal options) of less than five years, or (B) as security for an obligation; (19) "real estate" means any leasehold or other estate or interest in, over or under land, including structures, fixtures, and other improvements and interests which by custom, usage, or law pass with a conveyance of land though not described in the contract of sale or instrument of conveyance. "Real estate" includes parcels with or without upper or lower boundaries, and spaces that may be filled with air or water; (20) "residential" means used as a dwelling; (21) "sale", "sale of a cooperative unit" or "sale of a condominium unit" means any obligation or arrangement for consideration for conveyance to a purchaser of a cooperative or condominium unit, excluding options or reservations not binding on the purchaser; (22) "special developer control" means any right arising under State law, cooperative or condominium instruments, the association's bylaws, charter or articles of association or incorporation, or power of attorney or similar agreement, through which the developer may control or direct the unit owners' association or its executive board. A developer's right to exercise the voting share allocated to any condominium or cooperative unit which he owns is not deemed a right of special developer control if the voting share allocated to that condominium or cooperative unit is the same voting share as would be allocated to the same condominium or cooperative unit were that unit owned by any other unit owner at that time; (23) "State" includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States; and (24) "tenants' organization" means a bona fide organization of tenants who represent a majority of the occupied rental units in a rental housing project. EXEMPTIONS

SEC. 605. The provisions of this title shall not apply to— 15 USC 3604. (1) a cooperative or condominium unit sold or offered for sale by the Federal Government, by any State or local government, by any corporate instrumentality of the United States, or by any agency thereof; (2) a cooperative or condominium project in which all units are restricted to nonresidential purposes or uses; or (3) any lease or portion thereof— (A) which establishes any leasehold or other estate or interest in, over or under land on or in which one or more residential condominium or cooperative units are located, the termination of which will terminate the condominium or

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